US Stock Futures Up Ahead Of ISM Report
US stock futures gained in early pre-market trade, ahead of economic data. Data on motor vehicle sales will be released today. The Markit PMI manufacturing data will be released at 8:58 a.m. ET, while the ISM manufacturing composite index for October will be released at 10:00 a.m. ET. Futures for the Dow Jones Industrial Average surged 28 points to 15,505.00, while the Standard & Poor's 500 index futures rose 1.20 points to 1,752.20. Futures for the Nasdaq 100 index gained 5.75 points to 3,374.75.
A Peek Into Global Markets
European markets were lower today, with the Spanish Ibex Index falling 0.74%, London's FTSE 100 index dropping 0.11% and STOXX Europe 600 Index declining 0.22%. German DAX 30 index fell 0.18% and French CAC 40 Index declined 0.42%.
Asian markets ended mixed today. Japan's Nikkei Stock Average fell 0.88%, China's Shanghai Composite gained 0.37% and Hong Kong's Hang Seng Index rose 0.19%. Australia's ASX/S&P500 fell 0.25% and India's Sensex jumped 0.15%. New home prices in China climbed 9.48% y/y in September. Japan's domestic auto sales rose 17.3% y/y to 264,587 vehicles in October. The HSBC China Manufacturing PMI surged to 50.9 in October, versus a reading of 50.2 in September. China's official manufacturing PMI increased to 51.4 in October, versus 51.1 in September. Australian manufacturing index gained 1.5 points to 53.2 in October.
Analysts at Baird upgraded Netflix (NASDAQ: NFLX) from “neutral” to “outperform.” The target price for Netflix has been raised from $383 to $420.
Netflix's shares closed at $322.48 yesterday.
- Tech Data (NASDAQ: TECD) today announced that it will participate in a pilot program to distribute the iPhone 4s, iPhone 5s, iPhone 5c and related accessories to its channel of resellers in Western Europe. To read the full news, click here.
- WellCare Health Plans (NYSE: WCG) announced that its board of directors has appointed the company's chairman of the board, David J. Gallitano, as interim CEO, replacing Alec Cunningham. To read the full news, click here.
- Omnicom Group (NYSE: OMC) and Publicis Groupe SA (OTC: PUBGY) today announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, ("HSR") has expired in connection with the previously announced merger of Publicis Groupe and Omnicom. To read the full news, click here.
- CDW (NASDAQ: CDW), today announced that its Board of Directors has declared its first quarterly cash dividend to its shareholders since the company's initial public offering in June 2013. To read the full news, click here.
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